Anwesha Mishra is a creative and versatile writer. She loves books and coffee and hates socializing.
Is the 9-5 corporate norm heading towards extinction? Is freelancing taking over 9-5 jobs?
I am sure you are not unfamiliar with ‘freelancing’. Today, freelancing has become a common practice as it allows you to ditch your (monotonous) 9-5 routine. And I guess that is a competitive advantage in the current generation when conventional corporate culture has become a thing of the past!
Being a writer myself, I cannot stop feeling intimidated by the freelance norm. The world (mostly platforms like LinkedIn and Freelancers) is swarming with freelancers who have taken the workspace culture by storm. Today, you can spot them anywhere from offices to coffee shops to libraries to parks, dressed in everything from suits to pajamas. With festivities and holidays buzzing around the corner, the one thing that has kept me occupied since the past few months is whether freelancing is taking over 9-5. And I feel the result is positive.
Without extending this introduction any further, let's dive further into freelancing vs. 9-5!
Epidemic during a Global Pandemic: En Masse ‘The Great Resignation’
It all started with The Great Resignation in 2021. With the global pandemic, came the great resignation or the Big Quit. During early 2021, a large economic trend hit the corporate world in which a massive number of employees—primarily in the US—voluntarily resigned from their jobs.
But, how is it relevant with freelancing taking over 9-5 jobs? The 9-5 office exodus paved way for employees to take up freelancing. The COVID-19 pandemic further fueled the freelancing norm and less than a year into the pandemic, around 12% of America’s workforce started freelancing. These figures form enough evidence that the freelancing culture has currently exploded. With more and more Gen Z workers undertaking to freelance, it has become evident that freelancing has become the new normal.
The word ‘free’ in ‘freelancing’ actually serves a purpose and elevates the value of freelance. However, freelancing is not limited to ditching your mundane 9-5 job and being your own boss.
Here is a list of 6 advantageous things that you can do as a freelancer or that you can leverage via freelancing:
1. BYOB (Be Your Own Boss): Work at your own pace and set your own deadlines because freelancing requires no involvement of a boss. When you freelance, you become your own master. Moreover, you get to bid goodbye to your boring and dull corporate attires, as freelancing lets your work even with your PJs on!
2. Personalized Office Cubicle: You do not have to worry about not having enough space in your cubicle to decorate your favorite plant. Freelancing gives you the liberty to curate and personalize your own office space. What an aesthetic cubicle or no office cubicle at all? Don’t worry, freelancing allows you to do both.
3. Flexible Schedule: Freelancing allows you to set your own schedules according to your preferences. Whilst freelancing, you do not have to miss or skip your favorite concerts for the sake of work. You can strategize your timetables and routines accordingly! Besides, this is especially useful for people who are juggling their work schedule with family commitments or health issues.
4. Work-cation Mode On: Yes, you can travel to your favorite holiday spot without missing out on your work! Professional freelancers are free to dictate when they will go on holiday and for how long.
5. T&C (Not) applied: You can set your own terms and conditions. You can set your own limitations. You can set your own timelines and work schedules. Basically, freelancing allows you to work on your own terms and conditions.
6. Unlimited Upskill and Upgrade: Freelancing provides you with uncapped earning potential. There is no limit to how much you can earn. Moreover, your skills and smartness will determine your earning potentials. The higher you upskill, the more your earnings! Most importantly, with freelancing, you also get plentiful time to focus on your personal development. And as the popular saying goes “Personal development and professional growth go hand-in-hand.”
The aforementioned are not vague. They are very true! Freelancing allows you the liberty to experiment with yourself as well as your skills. Factors as such make freelancing a popular job. According to a Freelancing in America survey, more than 50% of people in the U.S. will be freelancing by 2027. That implies that every second person around you or you come across will be a freelancer in the next 7 years—be it full-time or part-time. (I bet that was mind spinning!)It is no wonder that freelancing has become a popular choice and is gaining vast popularity with the spin of time.
Although freelancing is very liberating and provides a plethora of freedom aspects, the real question is whether freelancing will help you earn enough to make a living out of it. Speaking of financial freedom, the topic of earning significantly or more is common among freelancers. There are, however, various factors that determine the average income or the financial stability of a freelancer. Nevertheless, the answer is yes! You can absolutely make a living out of freelancing only and attain your desired financial stability.
However, you will not be able to decide how much you can earn through freelancing even if you have figured it all out. Nevertheless, you can ask yourself these questions in order to decide whether to make the leap.
- Is the market welcoming for your services?
- Are you (or willing to be) organized?
- How does your financial situation look like in the current scenario?
- What are your future financial goals?
- Are you good with time management?
- Are you willing to be flexible?
Although freelancing provides you freedom in various aspects, there are certain challenges that you may face if you are not willing to be abiding by factors such as time management, communication skills, flexible services, financial knowledge, to name a few. However, freelancing comes with the least amount of risk. The basic things that you require are the internet, a gadget (a laptop or a PC) and your skills! Blend the three and watch how your career elevates to the top.
Other than cogent work-life balance, mental and physical wellbeing, professional and personal development, freelancing provides you with the opportunity to assert a significant position within the market as well as the industry. Statistics say that the global freelance platform market size is projected to boom at a CAGR of 15.3% during 2021-26.
Freelancing has emerged as a prolific career and it will only become popular in the near future. 2020—the onset of the pandemic—saw a great increase in the number of freelancers in the market. Moreover, the past few years stand as growth indicators of the future years to come. I can certainly say that the freelancing industries will likely witness doubled growth in the number of jobs and workers.
Freelancing is definitely taking over 9-5 jobs and that was quite prominent with the number of freelancers emerging within the market space every hour. So, if you’re considering becoming a freelancer and are looking for opportunities to dwell in the freelance world, this is your sign to get started and get your freelancer label.
This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.
© 2021 Mirror Review